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ACCT 346 Education Organization- tutorialrank.com

For more course tutorials visit<br>www.tutorialrank.com<br><br>Multiple Choice 5<br>Short 9<br> Question : (TCO 4) Assumptions underlying cost-volume-profit analysis include all of the following,<br> Question 2. Question : (TCO 6) A basic assumption of activity-based costing (ABC) is that:<br> uestion 3. Question : (TCO 2) In a traditional job order cost system, the use of direct labor on jobs increases:<br> Question 4. Question : (TCO5) Cost drivers are:<br>

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ACCT 346 Education Organization- tutorialrank.com

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  1. ACCT 346 Final Exam Guide (New For more course tutorials visit www.tutorialrank.com Multiple Choice 5 Short 9 Question : (TCO 4) Assumptions underlying cost-volume-profit analysis include all of the following, Question 2. Question : (TCO 6) A basic assumption of activity- based costing (ABC) is that: uestion 3. Question : (TCO 2) In a traditional job order cost system, the use of direct labor on jobs increases: Question 4. Question : (TCO5) Cost drivers are: Question 5. Question : (TCO 8) Wood Co. has considerable excess manufacturing capacity. A special job order's cost sheet includes the following applied manufacturing overhead costs: Fixed costs: 25,000 Variable costs: 36,000 Compute cash collections budgeted for February. How much cash was collected in the month?

  2. ============================================== ACCT 346 Managerial Accounting Course Project on Bravo Baking Company (DEVRY) For more course tutorials visit www.tutorialrank.com Tutorial Purchased: 3 Times, Rating: A This course has a six-part project with deliverables due in six of the eight weeks. The course project takes a new company through hypothetical scenarios to reinforce the TCOs. By using a single entity, in a variety of business situations, you will see the practical application of a number of managerial accounting concepts taught in this course. You will have access to an interactive Excel Template in Doc ==============================================

  3. ACCT 346 Managerial Accounting Entire Course (DEVRY) For more course tutorials visit www.tutorialrank.com Tutorial Purchased: 5 Times, Rating: A+ Week 1 DQ 1 Ethics and Ethical Behavior Week 1 DQ 2 Managerial and Financial Accounting Week 2 DQ 1 Job Order Costing Week 2 DQ 2 Process Costing Week 3 DQ 1 Cost-Volume-Profit Analysis Week 3 DQ 2 Variable Costing and Full Costing Week 4 DQ 1 Activity Based Costing Week 4 DQ 2 Incremental Cost Analysis Week 5 DQ 1 Pricing Techniques Week 5 DQ 2 Capital Budgeting Techniques Week 6 DQ 1 Budgeting Week 6 DQ 2 Standard Costs and Variance Analysis

  4. Week 7 DQ 1 Responsibility Centers ============================================== ACCT 346 Midterm Exam All 4 Sets For more course tutorials visit www.tutorialrank.com Details of All Questions Included in these midterms could be found on this link ACCT 346 Midterm Set 1 (New) ACCT 346 Midterm Set 2 (New) ACCT 346 Week 4 Midterm 1 ACCT 346 Week 4 Midterm 2

  5. ============================================== ACCT 346 Midterm Set 1 (New) For more course tutorials visit www.tutorialrank.com Multiple Choice 10 Short 4 1. (TCO 1) Which of the following is NOT a difference between Financial Accounting and Managerial Accounting? (Points : 7) Financial Accounting is concerned with the past, while Managerial ============================================== ACCT 346 Midterm Set 2 (New) For more course tutorials visit

  6. www.tutorialrank.com Multiple Choice 10 Short 4 Grade Details - All Questions Page: 1 2 Question 1. Question : (TCO 1) The goal of managerial accounting is to provide information that managers need for which of the below? ============================================== ACCT 346 Week 1 Homework Assignment For more course tutorials visit www.tutorialrank.com

  7. 1. Identify whether each of the items below is a Product Cost or Period Cost: 2. Identify whether each of the items below is a Direct Cost or Indirect Cost: 3. Identify whether each of the below is a Fixed Cost or Variable Cost: 4. Classify each as direct material, direct labor, indirect labor, indirect labor, other manufacturing overhead or period cost, and then answer the 5 questions below: m. Factory equipment lubricants ............ ============================================== ACCT 346 Week 1-7 All Discussion Questions For more course tutorials visit www.tutorialrank.com Week 1 DQ 1 Ethics and Ethical Behavior Week 1 DQ 2 Managerial and Financial Accounting

  8. Week 2 DQ 1 Job Order Costing Week 2 DQ 2 Process Costing Week 3 DQ 1 Cost-Volume-Profit Analysis Week 3 DQ 2 Variable Costing and Full Costing Week 4 DQ 1 Activity Based Costing Week 4 DQ 2 Incremental Cost Analysis Week 5 DQ 1 Pricing Techniques Week 5 DQ 2 Capital Budgeting Techniques Week 6 DQ 1 Budgeting Week 6 DQ 2 Standard Costs and Variance Analysis Week 7 DQ 1 Responsibility Centers ============================================== ACCT 346 Week 2 Homework Assignment For more course tutorials visit www.tutorialrank.com

  9. 1. Biltz Company uses a predetermined manufacturing overhead rate based on direct labor hours to allocate (apply or charge) manufacturing overhead costs to jobs. During the year, the company actually incurred manufacturing overhead costs of $582,000 and 135,000 direct labor hours were worked. The company originally estimated that it would incur $525,000 of manufacturing overhead during the year and that 150,000 direct labor hours would be worked. 2. The following account balances at the beginning of January were selected from the general ledger of Ocean City Manufacturing Company: Work-in-Process (WIP) inventory $0 Raw materials inventory $28,000 Finished goods inventory $40,000 Additional data: 1) Actual manufacturing overhead for January amounted to $62,000. 2) Total direct labor cost for January was $63,000.

  10. 3) The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $250,000 of direct labor cost and $350,000 of manufacturing overhead costs. 4) The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were $5,200 (800 direct labor hours) and total direct material charges were $14,000. 5) Cost of direct materials placed in production during January totaled $123,000. There were no indirect material requisitions during January. 3. Vintage Fun reproduces old-fashioned style roller skates and skateboards. The annual production and sales of roller skates is 950 units, while 1,750 skateboards are produced and sold. The company has traditionally used direct labor hours to allocate its overhead to products. Roller skates require 2.5 direct labor hours per unit, while skateboards require 1.25 direct labor hours per unit. The total estimated overhead for the period is $114,300. The company is looking at the possibility of changing to an activity-based costing system for its products. If the company used an activity-based costing system, it would have the following three activity cost pools: ============================================== ACCT 346 Week 3 Homework Assignment

  11. For more course tutorials visit www.tutorialrank.com 1. Beginning WIP inventory is 15,500 units, 75% complete for materials. During the month, 90,000 units were started; 87,000 were finished; and ending WIP was 18,500 units that were 50% complete for materials. How many equivalent units should be used to allocate costs for materials? (Assume that the weighted average method is used, not FIFO.) 2. During a period, 38,200 units were completed and 4,200 units were in ending WIP inventory. Ending WIP was 75% complete for direct materials and 50% complete for conversion costs. 2a. What are the equivalent units for direct materials?

  12. Completed Units $38,200 $38,200 Ending Units $4200 (75% complete) $3,150 All Units $42,400 $41,350 Direct Materials Equivalent Units 2b. What are the equivalent units for conversion costs? ============================================== ACCT 346 Week 3 Quiz (2 Sets) For more course tutorials visit www.tutorialrank.com ACCT 346 Week 3 Quiz (2 Sets)

  13. ============================================== ACCT 346 Week 4 Homework Assignment For more course tutorials visit www.tutorialrank.com 1.MountainAir Company has the following selected data for the past year: Units sold during year 30,000 Units produced during year 45,000 Units in ending inventory 15,000 Variable manufacturing cost per unit $ 4.50 Fixed manufacturing overhead (in total) $ 20,250 Selling price per unit $ 12.00 Variable selling and administrative expense per unit $ 1.00 Fixed selling and administrative expenses (in total) $ 4,000

  14. ============================================== ACCT 346 Week 4 Midterm 2 (DEVRY) http://www.tutorialrank.com/ACCT/ACCT-346- DEVRY/product-6989-acct-346-week-4-midterm-2-devry For more course tutorials visit www.tutorialrank.com Tutorial Purchased: 1 Times, Rating: B+ 1.Question : (TCO 1) Which of the following is not a difference between financial accounting and managerial accounting? 2. Question : TCO 1) Which of the following statements regarding fixed costs is true? 3. Question : (TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation?

  15. 4. Question : (TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit? 5. Question : (TCO 1) Which of the following is an example of a manufacturing overhead cost? 6. Question : ============================================== ACCT 346 Week 5 Homework Assignment For more course tutorials visit www.tutorialrank.com 1. Palmer's Gourmet Chocolates produces and sells assorted boxed chocolates. The unit selling price is $50 per box, unit variable costs are $25 per box, and total fixed costs for the company are $2,000.

  16. 1a. How many boxes of chocolates must Palmer's Gourmet Chocolates sell to break even? 1b. What are breakeven sales in dollars? 2. Extreme Sports received a special order for 1,000 units of its extreme motorbike at a selling price of $250 per motorbike. Extreme Sports has enough extra capacity to accept the order. No additional selling costs will be incurred. Unit costs to make and sell this product are as follows: direct materials, $100; direct labor, $50; variable manufacturing overhead, $14; fixed manufacturing overhead, $10. 2a. List the relevant costs for the decision of whether or not to accept the special order. 2b. What will be the change (difference) in operating income if Extreme Sports accepts the special order? c. Should Extreme Sports accept the special order? Why or why not? 3. Totally Technology manufactures two product lines: Cameras and Video Recorders. The company's product line income statement follows:

  17. Management is considering discontinuing the Video Recorder product line. Accountants for the company estimate that discontinuing the Video Recorder line will decrease fixed cost of goods sold by $10,000 and fixed marketing and administrative expenses by $4,000. repare an analysis supporting your opinion about whether or not the Video Recorder product line should be discontinued. ============================================== ACCT 346 Week 6 Homework Assignment For more course tutorials visit www.tutorialrank.com 1. Cave Hardware's forecasted sales for April, May, June, and July are $200,000, $230,000, $190,000, and $240,000, respectively. Sales are 65% cash and 35% credit, with all accounts receivable collected in the month following the sale. Cost of goods sold is 75% of sales and ending inventory is maintained at $60,000 plus 10% of the following month's cost of goods sold. All inventory purchases are paid 22% in the month of purchase and 78% in the following month. What are the total cash collections budgeted for June?

  18. 2. Madden Corporation manufactures T-shirts (its only product). The company’s standards for manufacturing T-shirts are as follows: 2a. What is the direct labor rate variance for the month? Is it favorable or unfavorable? 2b. What is the direct labor efficiency variance for the month? Is it favorable or unfavorable? ============================================== ACCT 346 Week 6 Quiz (2 Sets) For more course tutorials visit www.tutorialrank.com ACCT 346 Week 6 Quiz (2 Sets) ============================================== ACCT 346 Week 7 Homework Assignment

  19. For more course tutorials visit www.tutorialrank.com 1.Gomez Corporation is considering two alternative investment proposals with the following data: a. How long is the payback period for Proposal X? b. What is the accounting rate of return for Proposal Y? 2. You have been awarded a scholarship that will pay you $500 per semester at the end of each of the next 8 semesters that you earn a GPA of 3.5 or better. You are a very serious student and you anticipate receiving the scholarship every semester. Using a discount rate of 3% per semester, which of the following is the correct calculation for determining the present value of the scholarship? PLEASE STATE WHY YOU CHOSE THE ANSWER THAT YOU DID. 3. Maersk Metal Stamping is analyzing a special investment project. The project will require the purchase of two machines for $30,000 and

  20. $8,000 (both machines are required). The total residual value at the end of the project is $1,500. The project will generate cash inflows of $11,000 per year over its 8-year life. If Maersk requires a 6% return, what is the net present value (NPV) of this project? (Use present value tables or Excel.) 4. Hincapie Manufacturing is evaluating an investment in a new metal stamping machine costing $30,924. Hincapie estimates that it will realize $12,000 in annual cash inflows for each year of the machine's 3- year useful life. Approximately, what is the internal rate of return (IRR) for the investment? (Use present value tables or Excel.) ============================================== ACCT 346 Week 8 Final Exam For more course tutorials visit www.tutorialrank.com 1.Question :

  21. (TCO 1) The principle managers follow when they only investigate significant departures from the plan is commonly known as Points Received: 4 of 4 2.Question : (TCO 1) Which of the following is not likely to be a fixed cost? Points Received: 4 of 4 3.Question : (TCO 2) Which of the following is not a manufacturing cost? Points Received: 4 of 4 4.Question : manufacturing overhead that would be expensed in the current year if variable costing is used. (c) Compute the amount of fixed manufacturing overhead that would be included in ending inventory under full absorption costing. Points Received: 25 of 25

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